SEC Asks for Help to Regulate Excessive Internet Revenues | AccountingWEB

SEC Asks for Help to Regulate Excessive Internet Revenues

The financial repercussions of the yet-to-be-defined world of the Internet has caused the Securities and Exchange Commission to seek the help of organizations like the Financial Accounting Standards Board who issue accounting rules.

The SEC wants these bodies to tighten the way they require Internet companies to book revenue in an effort to decrease the amount of fraud in Internet companies reporting high or excessive figures.

The SEC also reported it has found Internet companies booking revenue for free or bartered services provided to various audiences, and has asked that this subject be addressed as well.

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